Shopping Center Sale
There are a few Southern California malls on the market. Los Angeles-based Trident Group is in negotiations to sell its Beverly Connection property to Apollo Real Estate Advisors, which is currently developing the Sunset Millennium mixed-use property in West Hollywood. The Del Amo Fashion Center in Torrance is also up for sale by owner and developer Guilford Glazer. Glazer built the property, which is the second largest U.S. mall, in 1971. The news follows announcements that Trizec Properties Inc. has sold its recently developed Pasadena property Paseo Colorado to Developers Diversified Realty Corp. And the Glendale Galleria has been sold to a partnership that includes Donohue Schriber, General Growth Properties, Cigna Corp. and the New York State Teachers’ Retirement System.
